Altra Industrial Motion Corp. (NASDAQ:AIMC) Increases Dividend to $0.09 Per Share

Altra Industrial Motion Corp. (NASDAQ:AIMCGet Rating) announced a quarterly dividend on Tuesday, April 26th, Zacks reports. Shareholders of record on Friday, June 17th will be paid a dividend of 0.09 per share by the industrial products company on Wednesday, July 6th. This represents a $0.36 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, June 16th. This is an increase from Altra Industrial Motion’s previous quarterly dividend of $0.08.

Altra Industrial Motion has decreased its dividend by an average of 23.9% annually over the last three years and has raised its dividend every year for the last 1 years. Altra Industrial Motion has a dividend payout ratio of 8.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Altra Industrial Motion to earn $4.18 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.7%.

Shares of AIMC stock opened at $36.03 on Thursday. Altra Industrial Motion has a 12-month low of $33.63 and a 12-month high of $68.07. The business’s fifty day simple moving average is $38.89 and its 200-day simple moving average is $47.88. The company has a current ratio of 2.80, a quick ratio of 2.16 and a debt-to-equity ratio of 0.71. The company has a market cap of $2.34 billion, a PE ratio of 87.88, a PEG ratio of 0.68 and a beta of 2.30.

Altra Industrial Motion (NASDAQ:AIMCGet Rating) last announced its quarterly earnings data on Wednesday, February 16th. The industrial products company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). Altra Industrial Motion had a net margin of 1.46% and a return on equity of 10.40%. The firm had revenue of $469.80 million during the quarter, compared to analyst estimates of $461.39 million. During the same period in the prior year, the company posted $0.76 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Altra Industrial Motion will post 3.63 earnings per share for the current year.

AIMC has been the topic of a number of research analyst reports. TheStreet cut shares of Altra Industrial Motion from a “b-” rating to a “c” rating in a research note on Wednesday, February 16th. StockNews.com began coverage on Altra Industrial Motion in a research report on Thursday, March 31st. They set a “buy” rating for the company. Robert W. Baird reduced their price objective on Altra Industrial Motion from $55.00 to $46.00 in a research note on Wednesday, March 9th. Finally, Zacks Investment Research upgraded shares of Altra Industrial Motion from a “sell” rating to a “hold” rating and set a $37.00 price target for the company in a research note on Tuesday, April 19th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $55.41.

A number of institutional investors and hedge funds have recently made changes to their positions in AIMC. MML Investors Services LLC increased its stake in Altra Industrial Motion by 4.1% in the fourth quarter. MML Investors Services LLC now owns 7,018 shares of the industrial products company’s stock valued at $362,000 after purchasing an additional 278 shares during the last quarter. UBS Group AG boosted its holdings in shares of Altra Industrial Motion by 8.2% in the 3rd quarter. UBS Group AG now owns 8,227 shares of the industrial products company’s stock valued at $455,000 after buying an additional 620 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Altra Industrial Motion in the 4th quarter valued at $712,000. Glenmede Trust Co. NA raised its stake in Altra Industrial Motion by 23.8% during the 4th quarter. Glenmede Trust Co. NA now owns 23,920 shares of the industrial products company’s stock worth $1,233,000 after acquiring an additional 4,595 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Altra Industrial Motion by 43.4% in the third quarter. Millennium Management LLC now owns 33,074 shares of the industrial products company’s stock valued at $1,831,000 after acquiring an additional 10,003 shares during the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

Altra Industrial Motion Company Profile (Get Rating)

Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in various motion-related applications, and high-volume manufacturing and non-manufacturing processes. It operates in two segments, Power Transmission Technologies (PTT) and Automation & Specialty (A&S).

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Dividend History for Altra Industrial Motion (NASDAQ:AIMC)

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